Moyes and his backroom staff were shown the door after a dreadful season which ended with them finishing seventh.

In a conference call to investors, chief executive Ed Woodward explained how the figure would be revealed in September but that it was expected "to be single-digit million pounds".

Woodward also said an announcement on a new manager would be made "in due course".

Louis Van Gaal is poised to take the job but the appointment won't be made before next week.

Woodward said finishing seventh in the Premier League had been "very disappointing" and suggested missing out on Europe had led to the sacking of Moyes last month.

He said: "The club's expectations - and you will see this reflected in the transfer market and what we have recently done from a managerial perspective - are absolutely to get back into the Champions League.